Ant to kick off dual listing in Hong Kong, ShanghaiAnt Group, the fintech unit of e-commerce giant Alibaba (9988), has started the process of concurrent initial public offerings in Hong Kong and in Shanghai on the Star board. And now working on going public in Hong Kong with shares as soon as this year is mainland ride-hailing startup Dida Chuxing. Ant, the parent of China's largest mobile payment platform Alipay, is seeking to raise about US$10 billion (HK$78 billion) through a Hong Kong IPO, Bloomberg reported. The deal might be one of the largest IPO in Hong Kong in recent years. In other IPO action, Strawbear Entertainment, a Chinese TV drama producer and distributor, has filed application to the Hong Kong stock exchange.

Source: The Standard July 20, 2020 19:07 UTC